Portland, Oregon is a unique blend of wild nature and funky urban cityscapes. For homeowners of Portland, however, this picturesque landscape comes with some potential threats — including wildfires, flooding, landslides — highlighting the importance of homeowners insurance and additional protection like flood or earthquake insurance.
The average cost of homeowners insurance in Portland is $801 per year or $67 a month. This is around 8% lower than the statewide average of $869 per year, and about 54% lower than the national average of $1,754.
Compare the best cheap homeowners insurance companies in Portland
Of the companies we looked at, American Family has the lowest rate, with an average annual cost of only $667.
To find the best cheap homeowners insurance in Portland, Policygenius rated over a dozen of the largest insurance companies in Oregon across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.
Company | Average monthly cost | Policygenius rating | |
|---|---|---|---|
$73 | 4.8 out of 5 | ||
$55 | 4.5 out of 5 | ||
$80 | 4.5 out of 5 | ||
$72 | 4.5 out of 5 | ||
$86 | 4.4 out of 5 |
Methodology & why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
2023 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
State Farm is the best home insurance company in Portland thanks to its large selection of policy options, high customer service marks, and industry-best financial stability ratings.
Pros and cons
Pros
Top-tier coverage add-ons, including extended replacement cost coverage
High customer satisfaction and financial strength ratings
Offers large discounts when you bundle your home and auto insurance
Cons
20% more complaints filed with the NAIC than other companies of its size
No discounts for first-time homebuyers
Rates are more expensive than average in Oregon
More details
Why we chose State Farm
State Farm is among the best home insurance companies in Portland. One of the reasons why we picked State Farm is because of its coverage options. State Farm lets homeowners get extended replacement cost coverage for their homes, replacement cost coverage for their personal property, water backup protection, and much more.
State Farm's customer service is top-rated, too. The company has received high ratings from policyholders according to J.D. Power’s 2022 customer satisfaction, claims, and digital experience surveys. It has also received the highest rating possible from A.M. Best for financial strength and stability.
In Portland, State Farm's rates are higher than average. The company doesn't offer as many discounts as other insurers in the state, but if you're planning to bundle home and auto insurance with State Farm, you may receive a large discount.
How do State Farm home insurance rates compare to the Portland average?
The average cost of home insurance from State Farm in Portland is $877 per year, which is 9% more expensive than the citywide average.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
2023 Policygenius award winner
American Family
4.6
Offers extended replacement cost
Offers flood insurance
Bundle home & auto
Why we chose it
American Family is one of the cheapest home insurance companies in Portland. It also has industry-best coverage options, high customer service ratings, and several discounts to complement its already affordable rates.
Pros and cons
Pros
Cheaper rates than average
High customer satisfaction and digital shopping satisfaction scores with J.D. Power
Several one-of-its-kind coverage endorsements and policy perks
Cons
Requires you to work with an agent to purchase a policy
More details
Why we chose American Family
On average, American Family has some of the most affordable rates of any large home insurance company in Portland. AmFam's wide range of discounts (many of which may be easy to qualify for) can make your premiums even cheaper.
American Family offers lots of additional coverage options that you can choose to add to your home insurance policy, too. You can customize your policy with up to 15 additional coverage options — including inland flood, equipment breakdown, and service line coverage.
How do American Family home insurance rates compare to the Portland average?
The average annual cost of American Family home insurance in Portland is $664 per year, which is about about 17% cheaper than the citywide average.
How to get a quote
Online with American Family or by contacting a local agent
2023 Policygenius award winner
Farmers
4.5
Offers extended replacement cost
Bundle home & auto
Smart home discounts
Why we chose it
Farmers is the best home insurance company in Portland for homeowners who want to bundle their coverage. Besides a large bundling discount, Farmers also has a range of coverage add-ons, discounts, and high claims satisfaction scores.
Pros and cons
Pros
Offers an 18% discount for bundling home and auto insurance
Receives few complaints from policyholders and has a high claims satisfaction score
Optional extended or guaranteed replacement cost dwelling coverage
Cons
Below-average scores on J.D. Power’s overall customer satisfaction and digital experience surveys
Higher rates than average in Oregon
More details
Why we chose Farmers
Farmers is the best homeowners insurance company in Portland if you want to bundle your insurance with another policy, especially your auto insurance. Farmers offers an 18% discount for bundlers.
Farmers also offers a range of coverages that you can add to a basic policy, including guaranteed or extended replacement cost coverage, water backup protection, and a personal articles floater.
Farmers also earned a high score in J.D. Power ’s 2022 claims satisfaction study (though it was below-average on J.D. Power’s overall customer satisfaction and digital experience surveys). Plus, Farmers receives fewer complaints than average, according to the National Association of Insurance Commissioners.
How do Farmers home insurance rates compare to the average in Portland?
The average cost of Farmers home insurance in Portland is $960 per year, which is 20% more expensive than the city's average annual premium of $801 per year.
How to get a quote
Online through Farmers
2023 Policygenius award winner
Nationwide
4.5
Bundle home & auto
Mobile app
New homebuyer discount
Offers extended replacement cost
Why we chose it
Nationwide is the best homeowners insurance company in Portland for people who want complete coverage. You can strengthen a basic Nationwide policy with the company's range of coverage add-ons. Nationwide also has high claims satisfaction ratings.
Pros and cons
Pros
Multiple high-quality coverage options
Highly rated for claims satisfaction by J.D. Power
Cons
Below-average customer satisfaction and digital experience ratings
More expensive than average in Oregon
More details
Why we chose Nationwide
Nationwide is the best homeowners insurance company for those who can take advantage of its large selection of coverage options. These include guaranteed and extended replacement cost coverage, better roof replacement, new belongings coverage, water backup protection, and equipment breakdown coverage.
Nationwide has also received high ratings from J.D. Power for claims satisfaction, and it ranks fifth on J.D. Power's Property Claims Satisfaction Study from 2022. The company also receives far fewer complaints than other insurers, according to the National Association of Insurance Commissioners.
Although we found that Nationwide's rates are slightly more expensive than average in Portland, you might be able to lower your premiums with the company's discounts. These include discounts for bundling, renovating your home, buying a new home, and others.
How do Nationwide home insurance rates compare to the Portland average?
The average cost of Nationwide home insurance in Portland is $859 per year, which is 7% more expensive than the annual citywide average of $801 per year.
How to get a quote
Online through Policygenius or Nationwide
2023 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Why we chose it
Airbnb hosts in Oregon may like Allstate thanks to HostAdvantage — its affordable short-term rental coverage that can be easily added to any policy. Whether you’re looking for basic or comprehensive home insurance coverage, Allstate is a standout option.
Pros and cons
Pros
Offers HostAdvantage for short-term rental coverage
Offers water backup protection, other endorsements
Cons
Beginning to pull back coverage in high-risk areas
Customer experience scores with J.D. Power are below the segment average
Rates are much more expensive than average in Oregon
More details
Why we chose Allstate
If you're looking to cover your short-term rental, Allstate's HostAdvantage makes it our top pick for homeowners insurance in Portland. HostAdvantage comes with theft protection, coverage for your damaged property ($10,000 per host period), and a $25 discount on cleaning services from Merry Maids.
Allstate also offers a few coverages that you can add to your home insurance policy for more protection. This includes water backup protection, scheduled personal property coverage, and identity theft restoration coverage.
How do Allstate home insurance rates compare to the Portland average?
The annual average cost of Allstate home insurance in Portland is $1,034 per year, 29% more expensive than the citywide average.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent.
How much is homeowners insurance in Portland?
The average cost of home insurance in Portland is $801 per year, or $67 a month, for a policy with $300,000 in dwelling coverage. This is around 8% cheaper than the average annual cost of $867 for homeowners insurance in Oregon, and about 54% cheaper than the national average.
Portland home insurance rates by ZIP code
Home insurance rates can vary substantially depending on which ZIP code your home is located in, as homes in certain Portland neighborhoods may be more prone to extreme weather damage or property crime than others.
To help you find out how much home insurance costs where you live, we calculated average home insurance rates by ZIP code in Portland.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
97206 | $793 | -9% |
97219 | $831 | -4% |
97202 | $831 | -4% |
97230 | $785 | -10% |
97236 | $796 | -8% |
97233 | $804 | -7% |
97266 | $776 | -11% |
97217 | $766 | -12% |
97203 | $780 | -10% |
97211 | $795 | -9% |
Cheapest ZIP codes for home insurance in Portland
With an average home insurance rate of $766 per year, the 97217 ZIP code is the most affordable area for home insurance in Portland.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
97217 | $766 | -12% |
97212 | $773 | -11% |
97216 | $774 | -11% |
97266 | $776 | -11% |
97227 | $778 | -10% |
97203 | $780 | -10% |
97258 | $782 | -10% |
97209 | $783 | -10% |
97213 | $784 | -10% |
97232 | $784 | -10% |
Most expensive areas for homeowners insurance in Portland
With an average annual premium of $857, the 97201 ZIP code is the most expensive ZIP code in Portland for home insurance. If you live one of these ZIP codes, your rates might be among the highest in the city.
ZIP code | Average annual cost | Difference from state average (%) |
|---|---|---|
97201 | $857 | -1% |
97239 | $851 | -2% |
97221 | $846 | -3% |
97215 | $844 | -3% |
97214 | $837 | -4% |
97219 | $831 | -4% |
97202 | $831 | -4% |
97205 | $808 | -7% |
97233 | $804 | -7% |
97236 | $796 | -8% |
Learn more >> Home insurance rates by ZIP code
Portland home insurance costs by coverage amount
Along with your home's location, your homeowners insurance premiums are primarily based on how much dwelling coverage is in your policy. This is the centerpiece of your home insurance coverage, covering the cost to repair or rebuild your home after a covered disaster.
Here are the average rates for homeowners insurance based on coverage amount.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $486 |
$200,000 | $669 |
$300,000 | $801 |
$400,000 | $999 |
$500,000 | $1,218 |
Portland home insurance costs by deductible amount
Your home insurance deductible is the amount you’re responsible for paying on each claim before insurance kicks in to help cover the cost of repairing or replacing your property. A higher deductible means lower insurance premiums, but it also means you're responsible for paying more out of pocket when you file a claim. Here are the average rates for homeowners coverage by deductible amount.
Deductible | Average annual cost |
|---|---|
$500 | $1,015 |
$1,000 | $679 |
$2,000 | $796 |
Cheapest homeowners insurance companies in Portland
Based on our analysis, Mutual of Enumclaw Insurance, Auto-Owners Insurance, and American Family are the three cheapest home insurance companies in Portland, with average premiums citywide ranging from $397 to $664 per year.
Company | Average annual cost |
|---|---|
Mutual of Enumclaw Insurance | $397 |
$521 | |
$664 | |
$680 | |
California Casualty | $721 |
Oregon Mutual | $830 |
$837 | |
$859 | |
$877 | |
$960 | |
$1,034 | |
$1,034 | |
$1,599 |
Cheapest home insurance in Portland if you have poor credit
A bad credit score does more than just cost you a few dollars in late payment fees — it can also make your auto and home insurance rates thousands of dollars higher.
Here are the average rates for homeowners insurance for Portland residents with poor credit.
Company | Average annual cost |
|---|---|
Mutual of Enumclaw Insurance | $595 |
Auto-Owners Insurance | $879 |
Grange Insurance | $1,036 |
American Family | $1,067 |
California Casualty | $1,146 |
Nationwide | $1,208 |
Oregon Mutual | $1,359 |
State Farm | $1,500 |
Foremost | $1,711 |
Allstate | $1,799 |
USAA | $1,901 |
Farmers | $2,300 |
Country Financial | $2,523 |
Cheapest home insurance in Portland if you have an older home
Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older and more difficult to replace materials. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code.
Here are the average homeowners insurance rates for Portland residents with older homes.
Company | Average annual cost |
|---|---|
Mutual of Enumclaw Insurance | $461 |
Auto-Owners Insurance | $521 |
Grange Insurance | $681 |
American Family | $705 |
California Casualty | $725 |
Oregon Mutual | $837 |
Nationwide | $854 |
USAA | $855 |
State Farm | $875 |
Farmers | $1,030 |
Foremost | $1,044 |
Allstate | $1,065 |
Country Financial | $1,738 |
Cheapest homeowners insurance in Portland if you have a history of claims
Claims history is one of the biggest factors that insurance companies use when calculating your home insurance premiums. If you have multiple claims on your record, your insurer will likely view you as a risk for filing future claims and may charge you higher rates as a result.
Here's the cheapest home insurance companies in Portland for a homeowner with three claims within a five-year period on their record.
Company | Average annual cost |
|---|---|
Mutual of Enumclaw Insurance | $535 |
Grange Insurance | $681 |
State Farm | $904 |
USAA | $1,021 |
Auto-Owners Insurance | $1,138 |
California Casualty | $1,209 |
Farmers | $1,353 |
American Family | $1,373 |
Nationwide | $1,664 |
Oregon Mutual | $1,810 |
Allstate | $2,101 |
Country Financial | $2,744 |
Foremost | $4,485 |
How to get homeowners insurance quotes in Portland
Here are a few steps to follow as you shop for homeowners insurance in Portland.
Frequently asked questions
What is the average cost of homeowners insurance in Portland, Oregon?
The average cost of homeowners insurance in Portland, Oregon is $72 per month, or $858 per year.
How does home insurance in Portland compare to the national average?
The average home insurance premium in Portland is $858 per year. This is almost $1,000 lower than the national average at $1,754, and about $100 lower than the state average of $943. The average cost of home insurance in each state is determined by weather and crime risks, as well as home values in each area.
How can I lower my homeowners insurance in Portland?
You can lower your homeowners insurance in Portland by taking advantage of discounts offered through your home insurance company. This might mean bundling your home and auto policies together for discounts, or adding security systems to your home.
Is it mandatory to have homeowners insurance in Portland?
There are no state or local laws that require homeowners insurance in Portland, but it is required by most mortgage lenders. Lenders have a financial stake in your property, and they want to make sure it's fully protected until it's paid off.
